Chevrolet Corvette Insurance Rates

Are Corvettes expensive to insure? Corvettes can be more expensive to insure than most vehicles. Exactly how much is Corvette insurance from major insurers? The average insurance cost for a Corvette is $1,864 a year, or $155 a month. Read on to learn how to find the cheapest Chevrolet Corvette insurance rates.

Enter your ZIP code in our free rate tool above to start comparing Corvette insurance quotes and save on Corvette insurance costs.

The average insurance rates for a Chevrolet Corvette are $1,790 a year with full coverage. Comprehensive insurance costs approximately $494 each year, collision insurance costs $922, and liability is $264. Liability-only coverage costs around $312 a year, and high-risk coverage costs $3,870 or more. Teenage drivers cost the most to insure at up to $6,090 a year.

Average premium for full coverage: $1,790

Policy rates by type of insurance:

Estimates include $500 deductibles, liability limits of 30/60, and includes medical and UM/UIM coverage. Prices are averaged for all U.S. states and Corvette models.

Price Range Variability

Urban vs. Rural Price Range

Choosing to live in a large city can make a big difference on the price of insurance. Rural locations are shown to have a lower frequency of collision claims than densely populated cities. The graphic below illustrates the difference between rural and urban areas on auto insurance prices.

The examples above demonstrate why all drivers should compare rates quotes using their specific location and risk profile, instead of making a decision based on average rates.

Use the form below to get customized rates for your location.

More Rate Details

The chart below details average Chevrolet Corvette insurance rates for additional coverage and risk scenarios.

• The best discount rate is $977
• Raising to $1,000 deductibles will save $320 annually
• The average rate for a good driver age 40 who chooses $500 deductibles is $1,790
• Using low deductibles will cost an extra $628 annually
• Drivers who are prone to accidents and violations could pay around $3,870
• Policy cost for full coverage for a 16-year-old driver can cost $6,090

View Chart as Image

Insurance rates for a Chevrolet Corvette also range considerably based on your risk profile, the trim level and model year, and physical damage deductibles and liability limits.

More mature drivers with no violations or accidents and high deductibles may pay as low as $1,600 every 12 months on average, or $133 per month, for full coverage. Rates are much higher for teenagers, where even good drivers should be prepared to pay in the ballpark of $6,000 a year. View Rates by Age

Your home state also has a big influence on Chevrolet Corvette insurance prices. A middle-age driver might find rates as low as $1,290 a year in states like Utah, Ohio, and New Hampshire, or be forced to pay as much as $2,410 on average in New York, Michigan, and Florida.

View Chart as Image

Using high physical damage deductibles can reduce rates by up to $950 annually, whereas increasing liability limits will push rates upward. Moving from a 50/100 limit to a 250/500 limit will raise rates by up to $237 more each year. View Rates by Deductible or Liability Limit

If you have a few points on your driving record or tend to cause accidents, you may be forking out anywhere from $2,100 to $2,800 additional every year, depending on your age. Insurance for high-risk drivers is expensive and can cost from 46% to 132% more than a normal policy. View High Risk Driver Rates

Insurance Rates by Trim Level and Model Year

Rates assume 2023 model year, a 40-year-old male driver with no accidents or violations, $500 comprehensive and collision deductibles, minimum liability limits, and uninsured/under-insured motorist coverage included. Rates are for comparison only and are averaged for all 50 U.S. states.

How to Find Low Cost Chevrolet Corvette Insurance

Finding cheaper rates on insurance for a Chevrolet Corvette consists of not taking risks behind the wheel, having a good credit history, not filing small claims, and consideration of higher deductibles. Set aside time to compare rates once a year by obtaining price quotes from direct companies like GEICO, Progressive, and Esurance, and also from several local insurance agents.

The following is a review of the data that was covered above.

• You may be able to save around $230 per year just by quoting online in advance
• Insureds who purchase higher liability limits will pay an extra $290 every year to raise from a 30/60 limit to 250/500 limits
• Teens are the costliest to insure, as much as $508 each month including comprehensive and collision insurance
• Drivers considered higher risk who have several accidents or serious violations pay on average $2,080 more per year for Corvette insurance

How much does it cost to insure a Corvette if you have a poor record? Generally, the cost to insure a Corvette will be at least $500 more if you have a DUI or reckless driving charge. And if you are wondering how much is insurance on a Corvette for a 16 or 18-year-old, it will usually be at least $1,000 more than a normal policy.

The best way to find cheap Corvette average prices is to shop around for a Corvette comparison chart of insurance rates. Whether you are looking for the best Corvette insurance as a 20-year-old or want to find out how much is insurance for a 2019 or 2020 Corvette, shop around to find the best Corvette car insurance price.

It’s important to also know if you need collector car insurance or standard auto insurance. There are different auto insurance companies, and some do both or just one type. Classic car insurance is for an older collector vehicle that needs to be insured a bit different than your standard newer vehicle.

Use our free tool below to shop around for everything from the insurance cost for a Corvette Stingray to Corvette insurance costs for 18-year-olds and 20-year-olds.

What are the safety ratings of the Chevrolet Corvette?

Chevrolet Corvette safety ratings and features are important when it comes to calculating rates. The safer your car is, the more discounts you will receive. The newest model of the Chevrolet Corvette has some great advanced safety features, such as a rearview camera, a head-up display, and a front curb-view parking camera.

However, the Insurance Institute of Highway Safety (IIHS) has not crash-tested the Chevrolet Corvette. This means that insurance costs will be calculated on overall crash test ratings for sports cars, even if the Chevrolet Corvette is safer than other sports cars.

How does the Chevrolet Corvette compare against other vehicles in the same class?

The Chevrolet Corvette is a midsize, luxury sports car, which usually means it will have higher liability rates because it is more prone to crashing. While 2014 Corvette insurance rates might be different than insurance on a 2020 Corvette because the 2020 model has more safety features that prevent crashes, you can expect rates on luxury sports cars to be higher on all model years.

The good news is that the IIHS found that the Chevrolet Corvette’s liability rates were substantially better than average in comparison to other sports cars. This doesn’t mean you’ll have cheap rates, but your rates will be cheaper than average for sports cars.

If you are curious how the Chevrolet Corvette’s insurance rates compare to other sports cars, take a look at the list below.

• Ford Mustang GT Insurance Rates
• Mercedes-Benz SL Class Insurance Rates
• Nissan 370Z Insurance Rates

Ready to start shopping for Corvette insurance? Whether you want 2019 or 2020 Corvette insurance cost comparisons or a decades-old model quote, enter your ZIP code in our free tool.

References

1. https://www.iihs.org/ratings/insurance-losses-by-make-and-model